Samurai 2K Aerosol Limited Archives

Samurai 2K Aerosol Bags Silver Medal at International Exhibition of Inventions in Geneva, Switzerland

Samurai 2K Aerosol’s Tintatek technology was awarded the Silver Medal amidst stiff competition from over 1000 innovations
Fillable Aerosol Container for mixing, colour matching of paint colours without additional equipment revolutionises aerosol paint industry
Unique participation certificate in the form of a non-fungible token (NFT), enables exhibitors to verify their participation through blockchain technology

Samurai 2K Aerosol Limited (the Company ) (SGX: Y8E), a Company listed on the Catalist board of the Singapore Exchange Securities Trading Limited (SGX-ST) and an innovator in the aerosol paint industry, proudly announces its latest accomplishment – securing a Silver Medal at the prestigious 49th International Exhibition of Inventions in Geneva, Switzerland (the Geneva Exhibition) which was held from 17 April to 21 April 2024.

Mr Ian Ong, Executive Director and Chief Executive Officer (CEO) of Samurai 2K Aerosol Limited with the Silver Medal at the International Exhibition of Inventions Geneva.

The Geneva Exhibition, supported by the Swiss Government and the World Intellectual Property Organization (WIPO), is renowned for showcasing new products ready for commercialisation. This year, the exhibition hosted over 825 exhibitors from 45 countries.

Mr Ian Ong showcasing the Company's Tintatek — Mr Ian Ong showcasing the Company’s Tintatek

The Company’s award-winning innovation, Tintatek, is a fillable aerosol container that allows users to mix paint colours manually without additional equipment. This groundbreaking product promises to revolutionise the aerosol paint industry by significantly enhancing product usability and accessibility.

Ian Ong, CEO of the Company, remarked, “Whether it’s automobiles, marine pleasure crafts, household items, or industrial machinery, the issue of how to repair damaged parts so that the new colour matches the original without any visible discrepancy is a dilemma for many users. I am confident that Tintatek will revolutionise the aerosol paint industry by making colour repair not only more accurate but also more user-friendly and cost-effective.”

Mr Ian Ong added, “Tintatek is nearing the final stages of refinement and will soon be launched in the market. This innovation does not only reflect our dedication to research and development but also aligns with our vision to dramatically enhance the commercial potential of the aerosol industry.”

The Geneva Exhibition also introduced a novel feature this year – a unique participation certificate in the form of a non-fungible token (NFT), enabling exhibitors to verify their participation through blockchain technology, underscoring the event’s commitment to integrating modern technology with traditional inventiveness.

The Company’s participation in the Geneva Exhibition is a testament to its innovative spirit and commitment to pushing the boundaries of the aerosol paint industry.

Reference:
https://links.sgx.com/1.0.0/corporate-announcements/IGVMPS9F8A2MVKCN/5256c177a8470487b0d8bb72e362f0ab63a52adaeeb6e4771380744b417aae59

Issued by Samurai 2K Aerosol Limited

This press release has been reviewed by UOB Kay Hian Private Limited (the “Sponsor”).

This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (“SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, who can be contacted at 8 Anthony Road #01-01, Singapore 229957, telephone (65) 6590 6881

About Samurai 2K Aerosol Limited (SGX: Y8E)
Samurai 2K Aerosol Ltd (“SAMURAI®”) has been listed on the Catalist Board of the Singapore Exchange Securities Trading Limited (the SGX-ST) since January 2017. SAMURAI® is a fully integrated aerosol specialist that focuses on the repainting business as well as aftermarket for the automotive refinishing and refurbishing industry.

SAMURAI® aims to be the world’s most respected innovative aerosol system provider and offer the most innovative aerosol systems with the best user enjoyment and to create more job opportunities for all the sprayers in the world.

SAMURAI® regional office is situated in Singapore while research, product development, branding and manufacturing are conducted in Malaysia. Samurai’s products are distributed worldwide to throughout Malaysia, Indonesia, Thailand, Philippines, Vietnam, Cambodia, UK, USA, Singapore, and India. Its range of products includes Truck Bed Liner, Epoxy Marine Surface Primer, Marine Coating, Boat Deck Granular Textured Epoxy Primer, Automobile Body Epoxy Primer etc.

For more information, please visit our official website at www.samurai2kaerosol.com.

Media Contact:
Samurai 2K Aerosol Limited
Ms. Saveena Prabakaran
Legal Cum Relation Executive
Email: saveena@samuraipaint.jp

Samurai 2K Aerosol Selected for Forbes Asia Under a Billion List

Samurai 2K Aerosol Limited (the “Company” and together with its subsidiaries, the “Group”) (SGX: Y8E), a manufacturer of automotive aerosol paints and aerosol solution specialist, today announced that it has been selected for inclusion in the list of best 200 companies in Forbes Asia’s annual “Best Under a Billion Dollars Award” for 2021. The event for winners to receive the award was only just recently held in Manila, The Philippines due to travel restrictions imposed during the Covid-19 pandemic. In its annual survey, companies are scored based on several financial performance metrics and chosen from a list of 20,000 firms. This list recognizes the top 200 publicly listed companies in the Asia Pacific region with sales between US$10 million to US$1 billion.

(L-R) Henry T. Sy Jr., Vice Chairperson of SM Investments Corporation, Ian Ong, Executive Director and Chief Executive Officer of Samurai 2K Aerosol Limited, and Christopher Forbes, Vice Chairman of Forbes Media.

The list, which is unranked, measures the long-term performance of companies based on full- year annual results, and firms are scored based on their track record in debt, sales, earnings per share growth and average returns on equity. Selection criteria included quantitative as well as qualitative factors. Companies with serious governance issues, questionable accounting, environmental concerns, management issues or legal troubles were excluded.

In its financial results for the six months ended 30 September 2023, the Group recorded all-round improvement in its financials as compared with the same period last year.

(See: Financial Statements and Related Announcement::Half Yearly Results (sgx.com))

This was despite a challenging business environment dominated by international trade tensions, global geopolitics, and general slowdown in global economies.

One factor for the Company’s inclusion in the list is its low leverage and prudent financial discipline. The high-interest rate environment has resulted in increased costs for operations and finance, but the Company’s financial position remains robust even as it sticks to its strategy of creating shareholder value through R&D and technology innovations. The Company’s Total Debt /Equity Ratio for the past 3 years has remained below 1 and is accompanied by healthy Current Ratio and Cash Ratio.

Table 1 Samurai 2K Aerosol Liquidity and Leverage*

*Source: SI Station data

	FY2023	FY2022	FY2021
Total Debt/Equity	0.44	0.23	0.23

Current Ratio	2.35	2.39	2.58

Cash Ratio	1.11	1.54	1.84

Meanwhile, its groundbreaking 2K Technology for aerosol paints is approaching a take-off point as marketing footprints have been established in the large markets of USA, UK and India. Additionally, it has a slew of products and services based on proprietary technology that are coming into the market soon. Tintatek, a unique color-matching and color-mixing technology will be launched in First Quarter of Financial Year 2025.

The Company’s aerosol paints enable professional standard spray painting results to be achieved with great convenience. This has resulted in the sprouting of a new service: onsite professional spray painting services where users are optimally matched from a list of certified professional Samurai 2K aerosol painters on an online platform. Professional spray painting courses with certification recognized by the Malaysian government are also being conducted presenting a new revenue stream.

Ian Ong, Founder, Executive Director & Chief Executive Officer of Samurai 2K Aerosol Limited

Ian Ong Yoke En, Founder, Executive Director & Chief Executive Officer sums up the investment merits of Samurai best when he says, “We are a creator of long-term shareholder value and our strong commitment to R & D brings forth a continuous stream of innovative products. At the same time, our complete digital transformation enables us to achieve scalability and economies of scale, and to move with great speed and efficiency to capture new business opportunities in the e-commerce world where geographical borders do not exist”

Mr Ong added, “But we always exercise financial discipline so that we can ride the ups and downs of the market while remaining focused on our spirit of Innovation.”

Issued by Samurai 2K Aerosol Limited

This press release has been reviewed by UOB Kay Hian Private Limited (the “Sponsor”).

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, who can be contacted at 8 Anthony Road #01-01, Singapore 229957, telephone (65) 6590 6881

Reference:

https://links.sgx.com/FileOpen/Samurai%20Annoucement%20-%20ForbesAsia.ashx?App=Announcement&FileID=780254

About Samurai 2K Aerosol Limited (SGX: Y8E)

Samurai 2K Aerosol Ltd (“SAMURAI®”) has been listed on the Catalist Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) since January 2017. SAMURAI® is a fully integrated aerosol specialist that focuses on the repainting business as well as aftermarket for the automotive refinishing and refurbishing industry.

Media and Analysts Contact:
Samurai 2K Aerosol Limited
Ms. Saveena Prabakaran
Legal Cum Relation Executive
Email: saveena@samuraipaint.jp

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

Samurai 2K Aerosol Records All-Round Improvement in 1H2024 Financials despite Challenging Business Environment

Net Profit (attributable to shareholders) up 494% to RM2.78 million;
EPS up from 0.14 RM Sen to 0.83 RM Sen;
Gross Profit margin up from approximately 34% to 45%;
Profit Before Tax margin up from approximately 3% to 10%.

1H2024 FINANCIAL HIGHLIGHTS

	1H2024	1H2023	Variance
Revenue	RM39.74 m	RM41.83 m	-5%
Net Income attributable to Equity Holders	RM2.78 m	RM0.47 m	+494%
Earnings Per Ordinary Share (EPS)	RM 0.83 sen	RM 0.14 sen	+493%
Gross Profit Margin (%)	44.7%	34.3%	+10%
Profit before tax Margin (%)	9.8%	3.3%	+7%

Samurai 2K Aerosol Limited (the Company and together with its subsidiaries, the Group) (SGX: Y8E), a manufacturer of automotive aerosol paints and aerosol solution specialist, announced its financial results for the six months ended 30 September 2023 (1H2024). Despite a challenging business environment dominated by international trade tensions, global geopolitics and general slowdown in global economies, the Group recorded all-round improvement in its financials for 1H2024 as compared with same period last year (1H2023).

Revenue slightly decreased by approximately 5.01 % from RM41.83 million in 1H2023 to RM39.74 million in 1H2024. The decrease in revenue was mainly due to lower demand from the Malaysia market. However, for the same period, net income attributable to equity holders increased significantly from RM0.47 million to RM2.78 million. Consequently, EPS increased from 0.14 RM Sen to 0.83 RM Sen.

Revenue by Geography	1H2024	% of revenue	1H2023	% of revenue
Indonesia	RM17.87 m	45%	RM17.11 m	41%
Malaysia	RM10.40 m	26%	RM12.73 m	30%
Others (Thailand, Vietnam, Philippines, United Kingdom, Singapore, Cambodia, India and United States of America)	RM11.47 m	29%	RM11.99 m	29%
Total	RM39.74 m	100%	RM41.83 m	100%

Indonesia remains Samurai’s largest market with 45% of total revenue or RM17.87 million for 1H2024 and Malaysia is the second largest market with 26% of total revenue or RM10.40 million for 1H2024.

Cost of sales decreased by RM5.51 million or 20.05% from RM27.47 million in 1H2023 to RM21.96 million in 1H2024. The decrease was mainly due to the decrease in raw material and packing material costs. As a result, Gross Profit Margin was higher at 44.7% in 1H2024 compared to 34.3% in 1H2023.

Overall expenses increased marginally by 0.7% from RM 15.22 million in 1H2023 to RM15.33 million for 1H2024. Administrative expenses in 1H2024 increased by RM0.98 million or 12.97%, mainly due to additional headcount which is in line with business expansion generally in new business development O2O (offline to online). This is offset by marketing and distribution expenses decreasing approximately by RM1.15 million or 15.86%, from RM7.24 million in 1H2023 to RM6.09 million in 1H2024 as well as a decrease in offline marketing activities. Finance expenses increased approximately by RM0.28 million or 61.42% from RM0.45 million in 1H2023 to RM0.73 million in 1H2024 mainly due to increase in drawdown of term loan for upgrading the new office building.

Financial PositionThe Group’s financial position remains robust with net assets of RM77.44 million as at 30 September 2023, compared to RM75.15 million as at 31 March 2023. As at 30 September 2023, net asset value per ordinary share is 23.15 RM Sen vs 22.46 RM Sen as at 31 March 2023. The Group has a total debt of RM 34.65 million and a cash balance of RM29.22 million as at 30 September 2023.

Going ForwardThe Group expects the operating environment to be challenging over the next 12 months in the light of current international trade tensions, global geopolitics, and a slowdown in global economic growth. The Group will continue to intensify its marketing and business development efforts, and exercise prudent financial policies and cost control.

The main thrust of its business strategy is the development of new products using innovative proprietary technologies as a differentiating factor for the enhancing of the Samurai brand name. This will go hand in hand with offline to online digital marketing taking advantage of its global reach, scalability, and the reaping of economies of scale.

Meanwhile, the Group will continue to expand sales to emerging markets in Asia where demographics and income growth should provide some resilience in demand for aerosol paints and coating products.

One of the new products the Group is focusing on will be Tintatek-an innovative color mixing, creation and matching product which is expected to be launched by the beginning of calendar year 2024.

The Group continues to see growing demand for its products in the emerging markets of Asia amidst favorable its macroeconomic factors of demographics, urbanization, and higher consumer disposable income. It will therefore continue to expand its business footprint in these markets.

This media release is to be read in conjunction with the Company’s results announcement for 1H2024 posted on the SGX website on 14 November 2023.

Reference:https://links.sgx.com/1.0.0/corporate-announcements/HBF3C8Y905OT1IKC/795efad7fc45d816baca2c94eda8c162de701e2b6f7d5167a40d8f626a67a8a4

Issued by Samurai 2K Aerosol Limited

This press release has been reviewed by UOB Kay Hian Private Limited (the “Sponsor”).

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, who can be contacted at 8 Anthony Road #01-01, Singapore 229957, telephone (65) 6590 6881

About Samurai 2K Aerosol Limited(SGX: Y8E)Samurai 2K Aerosol Ltd (“SAMURAI®”) has been listed on the Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) since January 2017. SAMURAI® is a fully integrated aerosol specialist that focuses on the repainting business as well as aftermarket for the automotive refinishing and refurbishing industry.

SAMURAI® specializes in manufacturing 2-part aerosol paint which is a mix of resin and hardener within the same spray can. In 2000, Mr. Peter Kwasny, the German inventor of aerosol spray paint, invented the first 2K technology in aerosol spray paint, which allows two (2) separate components, namely paint and hardener into a single aerosol spray paint. In 2015, Mr. Ong Yoke En, Samurai’s inventor and CEO, established a similar 2K technology and patented the first improved version of 2K technology. In 2016, SAMURAI® further developed from the earlier dual-head system to a single-head system aerosol spray paint, which penetrates the combination of the two (2) components thoroughly before application. This provides better performance in spraying experience and high level of durability.

SAMURAI® regional office is situated in Singapore while research, product development, branding and manufacturing are conducted in Malaysia. Samurai’s products are distributed worldwide to throughout Malaysia, Indonesia, Thailand, Philippines, Vietnam, Cambodia, UK, USA, Singapore and India. Its range of products include Truck Bed Liner, Epoxy Marine Surface Primer, Marine Coating, Boat Deck Granular Textured Epoxy Primer, Automobile Body Epoxy Primer etc. For more information, please visit our official website at www.samurai2kaerosol.com.

Media and Analysts Contact:Samurai 2K Aerosol LimitedMs. Saveena PrabakaranLegal Cum Relation ExecutiveEmail: saveena@samuraipaint.jp

Waterbrooks Consultants Pte LtdMr. Wayne KooTel: +65 9338 8166Email: wayne.koo@waterbrooks.com.sgEmail: query@waterbrooks.com.sg

SAMURAI 2K Aerosol: Achieving Its Digital Transformation Vision

Listed on the Catalist Board of the Singapore Exchange, SAMURAI 2K Aerosol Limited (Stock Symbol: Y8E.SI) is a leading aerosol coating specialist focusing on high performance coating solutions for the automotive refinishing and refurbishing industry. Headquartered in Malaysia, its products are manufactured in the production facility in Johor, and distributed in countries including Malaysia, Indonesia, Thailand, Philippines, Vietnam, Cambodia, United Kingdom, United States of America, Singapore, and India.

Transformation for the Future
Founder and CEO, Ong Yoke En’s crystal clear vision for the transformation of the Group is beginning to take shape. The aim is to build a strong digital platform by integrating online and offline business to create an omni-channel experience for its customers. The Group will transform from a product-driven business model to a data-driven service-oriented business model.

On 10 October 2022, SAMURAI 2K was handed the keys to 4 units of 5-storey shophouses for its new corporate office in Johor, Malaysia. This is a total of 20 units of 1700 sq ft each and marks another milestone in SAMURAI’s digital transformation focused on innovation through leveraging on AI and data analytics. Digital content creation and technical support staff strength is expected to grow to 150-200 in 3 years.

Operating expenses for the build-up of digital infrastructure is already reflected in 1HFY2023 ended 30 September Financial Statement available on SGXNet at https://links.sgx.com/1.0.0/corporate-announcements/K8EDQT0VA6E8IE01/abcc2506b2fcf5f3d0684b32052a6f39dc827ac20d143367b3336f75857910f0 The Financial Statement shows marketing and distribution expenses increasing by 206% from RM2.36 million in 1HFY2022 to RM7.23 million in 1HFY2023.

Said Samurai 2K spokesperson Leo Aun Foo, “Initially our ecommerce business will focus on the Malaysian and USA markets. Subsequently we will roll out plans for Europe, Australia, Japan, and South America. Each country will require a team of 5-10 staff to handle”.

It is with the online multi-country platform that the Group will be able to reap economies of scale, accelerate brand building, provide consumers with multi-media experience, create customer loyalty, and optimize business and product development through powerful data analytics.

Pipeline of Innovations and Inventions
The Group is targeting to launch the first-ever color mix-and-match system (“Tintatek” technology) of aerosol spray paint, which allows users (especially automotive consumers) to custom fill their desired colors into the aerosol can without the use of a complicated tool or equipment. Using Tintatek’s color data bank, millions of color combinations can be generated. Users can create original color for themselves or re-create and perfectly match the original factory paint color of the object to be painted. The introduction of Tintatek into DIY spray painting is a revolutionary and disruptive innovation in the aerosol paint industry.

At the same time, the Group is currently building a spray-painting service online platform which matches users with providers of at-your-doorstep spray-painting services. The wide range of colors, textures and special effects (mirror, crystal, metallic, luminous and many more) of SAMUARI 2K paints, the easy-to-use 2-head resin plus hardener, together with Tintatek and matching of users with providers brings DIY spray painting to a new level and a new era. More and more of those who need to spray paint their possessions will now be attracted to DIY spray-painting, bypassing the need to go to a workshop with all its attendant costs and convenience. Together with SAMURAI 2K’s multi-media websites, which include education and demonstrations of spray painting designs and techniques, this is expected to exponentially increase the size of the market for the Group’s products.

4-Year Financial Performance Track Record
Many companies have bold visions to transform themselves. But whether they can achieve it also depends on the strength of their financials. For that , we need to look at a Company’s long-term track record. The Group’s 4-year financial performance track record is encouraging and gives confidence that it will be able to realize its transformation for the Future. The financials portray a future-ready but financially prudent company always ensuring that it will be able to ride out any short-term turbulence in the economy.

Table 1 below measures several aspects of Samurai 2K’s financials through four years including the period of Covid-19 impact on the regional economies. It is rather rare for a company to exhibit positive numbers on all aspects of its financials.

GROWTH: Revenue
PROFITABILITY: Net Profit, Gross Profit Margin, Net Profit Margin
INVESTMENT MERIT: Return on Equity
LEVERAGE: Net Debt/Equity, Interest Coverage
LIQUIDITY: Current Ratio

Table 1: Stability and Financial Strength. (Samurai 2K FY is 31 March)
https://www.acnnewswire.com/docs/Multimedia/SAMURAI_2K_Aerosol.jpg

Table 1 shows a company that is financially strong, with consistent performance. Gross and Net Profit margins are above average for a consumer product. Debt/Equity has always been Net Cash, Current Ratio has always been above 2, and judging from the Interest Coverage, in the case of Samurai 2K, investors need not worry about the current high interest rate environment.

Conclusion
Samurai 2K’s vision is a bold one but its financial performance track record and tangible progress in pursuing its vision are encouraging signs that its transformation for the Future is achievable.

This article is reproduced for international public consumption by Waterbrooks Consultants the investor relations consultant for Samurai 2K Aerosol Limited.

For more information, please visit www.waterbrooks.com.sg

Original article link: https://www.investor-one.com/editorial/22275-SAMURAI-2K-AEROSOL-ACHIEVING-ITS-DIGITAL-TRANSFORMATION-VISION

SAMURAI 2K Aerosol Ltd [SGX: SAMR] [BBG: SAMUR] [RIC: Y8E.SI] http://samurai2kaerosol.com/